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you the deficit. but the actual debt payment, are less than 90 cents on the dollar that we take in. so even if the president as he should should pays our debts, that leaves him with 90 cents on every dollar that comes in to fund the other priorities of government and he wants to threaten not to pay that debt service. i think that's irresponsible of the president to be suggesting default on the debt. we ought to be talking about a bipartisan solution to the spending problem that got us here in the first place. >> i have heard talk in the republican conference about a one or two or three month extension on the debt ceiling. and on a continuing resolution for the budget to run the government. is that one to three month solution not still on the table? >> well, larry, we're proposing a number of different solution, both short term and long term. frankly, president obama needs to start rolling up his sleeves and focusing on both instead of sitting over in the white house and kind of throwing out all the threats to everybody across the country and running around campaigning as if he's still
and broadening opportunity for the middle class is shrinking our deficits in a balanced and responsible way. and for nearly two years now, i've been fighting for such a plan. one that would reduce our deficits by $4 trillion over the next decade. which would stabilize our debt, and our deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of our economy, but it would make it manageable. so it doesn't crowd out the investments we need to make in people and education and job training and science and medical research, all the things that help us grow. step by step, we've made progress towards that goal. over the past two years i've signed into law about $1.4 trillion in spending cuts. two weeks ago i signed into law more than $600 billion in new revenue. by making sure the wealthiest americans begin to pay their fair share. when you add the money that we'll save in interest payments on the debt, all together that adds up to a total of about $2.5 trillion in deficit reduction over the past two years. not counting the
, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effective way to improve your credit rating. >> the metaphors, jim, whether it's a family not paying the credit card bills, the president saying it's like dining and dashing at a restaurant, the only thing is we've got two weeks of respite and then we're off to the races again. >> after the civil war, there was tremendous partisanship in this country. a tumultuous time. the level of bipartisanship. there's such hatred that you can't get in a room. it never seems like obama gets in the room. biden got in the room beforehand. but look, everybody hates each other down there. it's exactly the opposite of what you would expect from a respected nation. it makes us look mickey mouse. i don't blame fitch. look, we have to pay bills, the constitution says it, but everybody doesn't seem
moral and religious deficit in this country plays a big role in these atrocities and in our cultural decline in general. we've got to face that fact. two prominent members of the clergy will face it. and the best path to prosperity is free markets, moral responsibility. i'm larry kudlow. we'll be right back. [ male announcer ] ok, here's the way the system works. let's say you pay your guy around 2% to manage your money. that's not much you think. except it's 2% every year. does that make a difference? search "cost of financial advisors" ouch. over time it really adds up. then go to e-trade and find out how much our advice costs. spoiler alert: it's low. really? yes, really. e-trade offers investment advice and guidance from dedicated, professional financial consultants. it's guidance on your terms, not ours. that's how our system works. e-trade. less for us. more for you. fiber one. uh, forgot jack's cereal. [ jack ] what's for breakfast? um... try the number one! yeah, this is pretty good. [ male announcer ] over a third of a day's fiber. fiber one. >>> get this. >>> get this. four
. >> and the always colorful senator alan simpson is with us, no bigger advocate of getting america's debt and deficit under control, but does he think the debt ceiling is the leverage that republicans should use to get that done? he'll join us exclusively, and i know you're going to ask him about that. >> absolutely. >> let's check out the action on the street right here. here's how things are shaping up with less than an hour to go. the dow jones industrial average hitting basically at the highs of the day. had been down around 60 points earlier. talking about a gain of 20 points on the blue chip average. fractional move at 13,527. nasdaq chart pattern looks similar. take a look though it's negative. down about nine points on the nasdaq, a quarter points lower and the s&p 500 looks like this. similar chart pattern as the dow up a fraction on the standard & poor's but still that's the high of the afternoon. let's get more on the markets in today's "closing bell" exchange by hank smith and steve from comcast funds and our own rick santelli. >> hello. >> good to see you guys. >> thank you so much for j
Search Results 0 to 4 of about 5